LMAX Group Research Desk
LMAX Group
All week we talked about the significance of Thursday’s US inflation data. We downplayed any volatility around the US midterm election results and had pinpointed the US CPI read as the one that could really move markets. And this is exactly how things played out.
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Editors’ Picks
AUD/USD falls toward 0.6400 amid mixed markets, light trading
AUD/USD is falling back toward 0.6400 in the Asian session on Monday, The pair failed to find any inspiration from the mostly upbeat Chinese business PMIs. A fresh uptick in the US Treasury bond yields and a mixed mood are weighing on the Aussie amid a China holiday.
USD/JPY hits fresh 11-month highs, approaches key 150.00 level
USD/JPY is extending gains toward 150.00, flirting with fresh 11-month highs in Asian trading on Monday. The pair is supported by the renewed upswing in the US Treasury bond yields and dovish BoJ commentary. However, Japanese FX intervention risks mount.
Gold moves below $1,850 on market caution, Fed Powell speech eyed
Gold extends its losing streak that began on September 25, trading lower around $1,840 per troy ounce during the Asian session on Monday. China’s Manufacturing PMI data was released over the weekend, which showed improvement into positive territory but failed to provide any support for the XAU/USD price.
DOT confirms trend reversal, eyes retest of $5 after reclaiming key hurdle
Polkadot price seems to be ending its downtrend after shedding 92.91% in the last two years from its all-time high of $55.09. In the last three days, DOT has inflated by 3.3%, breaching a declining trendline and confirming the potential start of an uptrend.
Week ahead – Dollar shines ahead of Nonfarm Payrolls
Dollar cruises higher, nonfarm payrolls on Friday will be crucial for this rally. Early indicators point to another solid month for the US labor market. Central bank decisions in Australia and New Zealand will also be in focus.